The creator of the popular bitcoin price model called Stock-to-Flow (S2F or S2FX) has added a new point to his infamous chart. Plan B said on Tuesday that “we knew bitcoin would not move in a straight line” and added that market action “is starting to look like 2013.”
S2FX calls ‘Intact’ Plan B.
“Plan B,” a pseudonym leveraged by the Twitter account @ 100 trillion And since March 22, 2019, he’s documenting his popular stock-to-flow (S2F) value model. Similar to tools and technical analysis models Bitcoin.com news has written about this in recent days. gold ratio multiplier and logarithmic growth curvesThe Plan B model is extremely popular and has recently updated it to the stock-to-flow cross-asset (S2FX) model.
Basically, the model quantifies B T cSimilar drawbacks for rare assets like gold. It then takes advantage of the bitcoins in circulation and quantifies the rewards by halving the rewards by issuing annuals.
At the time of publication, the Bitcoin network has an inflation rate of about 1.77% per year and circulating supply is 18,723,781 B T c. Despite Bitcoin’s 53% drop from over $64k to a low of $30k in 30 days, Plan B still confirms that the S2FX model is “inconclusive”. Also, the current charts look awfully familiar as Plan B expresses that things are looking like 2013 right now.
“New point: $37,341 may close .. -35% .. we knew bitcoin would not move in a straight line and multiple -35% drop is possible (and indeed) possible in a bull run,” Plan B Tweeted. “Looks like 2013. S2F(X) model intact,” the popular Twitter account told its 523,000 followers. plan b ahead couple:
Second bounce from the lower band of the S2F model. Will S2F break? Or will it prove to be an excellent purchase signal? I know several hedge funds that actually trade this BTC-S2F ‘combination’ (despite that we cannot formally use coincidence tests because the S2F ratio is not random).
Plan B asks if S2F will break or is it a buy signal?
Apart from this, Plan B also started vote On Twitter, he asked his followers whether he thought the S2F model would break or it would become an excellent buy signal. Of the more than 15,000 votes cast so far, 54.7% consider it a “buy signal”, while 17.4% think “S2F will break.” a person reacted and said B T c Will “bounce back and bounce” at $ 20k. others who consider it an excellent “buy signal”, said The question was “no brainer”.
Plan B was also asked “How do you define break? Second dev or first dev band? ” S2F manufacturer responded and Noted: “Suppose the first dev break out of the band and stay below $100k this year. ie 1 outlier won’t break it, but structurally breaks it below the model. The formulas and statistics are in the s2f paper, so you can use it Can better define. “
Last weekend, bitcoin prices tried to cross $ 38k, but the bulls failed to push the value of that limit further. Plan B isn’t the only market observer who has said the current market cycle looks like “2013”. On May 23, Bitcoin.com News Reported On many traders and crypto proponents who believe that the current cycle is similar to the double top bull run of 2013.
What do you think about the updated S2F chart of Plan B with the new dot? Do you think S2F breaks down? Let us know what you think about this topic in the comment section below.
Image credit: Shutterstock, Pixabay, Vicky Commons, Twitter, Plan B,
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